If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.

The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.

Intuitive Surgical Inc.’s P/E ratio decreased from 2017 to 2018 and from 2018 to 2019.

P/OP ratio

Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.

Intuitive Surgical Inc.’s P/OP ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

P/S ratio

An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.

Intuitive Surgical Inc.’s P/S ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

P/BV ratio

The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.

Intuitive Surgical Inc.’s P/BV ratio decreased from 2017 to 2018 and from 2018 to 2019.

An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.

Intuitive Surgical Inc.’s P/S ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.